Key Takeaways
- • Thomson Reuters sells a 51% controlling stake in its Global Print business to KKR for approximately $500 million in gross proceeds, while retaining a 49% minority equity interest in the joint venture.
- • Thomson Reuters maintains full editorial control and intellectual property rights over its content portfolio, alongside an exclusive license to distribute content in print and via ProView, its eBook platform.
- • The joint venture will serve legal and tax professionals worldwide with printed reference materials and provide commercial printing services to book publishers, positioning the business as a standalone operation under KKR's investment.
- • KKR's investment reflects confidence in the print platform's market position as a trusted standard-bearer for legal and tax reference materials among professional users.
Summary
Thomson Reuters and KKR have signed a definitive agreement to establish a joint venture for Thomson Reuters' Global Print business, announced on July 14, 2026. Under the transaction structure, KKR's capital accounts will acquire a 51% controlling stake in the business for approximately $500 million in gross proceeds at closing. Thomson Reuters will retain a 49% equity interest, maintaining a significant minority position in the venture.
A critical element of the deal preserves Thomson Reuters' strategic control over content and brand positioning. The company will maintain full editorial control and retain all intellectual property rights across its content portfolio. Additionally, Thomson Reuters secures an exclusive license to distribute content in both print and digital formats through ProView, its established eBook platform. This retention of IP rights and editorial authority suggests the agreement prioritizes long-term content quality and brand consistency despite the change in ownership structure.
The Global Print business serves a defined professional market focused on legal and tax information delivery. The division provides printed reference materials to legal and tax professionals globally and delivers commercial printing services to book publishers. Brian Dillard, KKR Partner and Co-Chief Investment Officer for Global Atlantic, characterized the opportunity as a chance to support Global Print as a standalone proposition while helping Thomson Reuters optimize its broader business portfolio. This positioning indicates KKR views the print business as operationally distinct and capable of generating returns under focused management, rather than as a business requiring integration into broader KKR platforms.
Steve Hasker, President and CEO of Thomson Reuters, emphasized the business's heritage and market standing, noting its long history of serving legal and tax professionals with trusted printed reference materials. The transaction enables Thomson Reuters to unlock capital value from a specialized business segment while maintaining editorial oversight and continued participation in the venture's economics through its retained minority stake.
A critical element of the deal preserves Thomson Reuters' strategic control over content and brand positioning. The company will maintain full editorial control and retain all intellectual property rights across its content portfolio. Additionally, Thomson Reuters secures an exclusive license to distribute content in both print and digital formats through ProView, its established eBook platform. This retention of IP rights and editorial authority suggests the agreement prioritizes long-term content quality and brand consistency despite the change in ownership structure.
The Global Print business serves a defined professional market focused on legal and tax information delivery. The division provides printed reference materials to legal and tax professionals globally and delivers commercial printing services to book publishers. Brian Dillard, KKR Partner and Co-Chief Investment Officer for Global Atlantic, characterized the opportunity as a chance to support Global Print as a standalone proposition while helping Thomson Reuters optimize its broader business portfolio. This positioning indicates KKR views the print business as operationally distinct and capable of generating returns under focused management, rather than as a business requiring integration into broader KKR platforms.
Steve Hasker, President and CEO of Thomson Reuters, emphasized the business's heritage and market standing, noting its long history of serving legal and tax professionals with trusted printed reference materials. The transaction enables Thomson Reuters to unlock capital value from a specialized business segment while maintaining editorial oversight and continued participation in the venture's economics through its retained minority stake.
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